Fabege Sells to Pareto Company

The sale is being made in the form of a company, with an underlying property value of MSEK 268 (EUR 26M) after deduction of deferred tax, and provides a pre-tax profit of approximately MSEK 5, which will be reported as an unrealized change in value in the third quarter.

The property is located at the address Parkvägen 4, in Solna. The property has a building on it that previously contained offices and has now been converted into a school, preschool and home for handicapped people, and the tenant is the municipality Solna stad. Råsunda Central School, which the new school will be called, will open at the start of the 2018 autumn term.

Occupation of the property will take place in the fourth quarter of 2018.

“Due to our focus on offices, it is a natural step to divest this school property now that it has been completed and is about to open. The property is fully leased and provides no further development potential for Fabege. We are convinced that Pareto previously acquired and today manages this type of community properties will be a good landlord,” comments Klaus Hansen Vikström, Vice President and Director of Business Development at Fabege.